The heartening news is that a unit of the iconic Tata conglomerate has acquired the Air India and its subsidiary Air India Express. The Tata group will get back its own child after 68 years. But the child is gravely ill and requires critical care without which it will perish soon. The Tatas are dishing out a whopping Rs 18,000 crore for a unit that’s making 20-crore daily loss. Further, the Air India has an astronomical debt amount of Rs 83,916 crore.
The Tatas will get ownership of only the lossmaking brands like Air India, Indian Airlines & the Maharajah with a fleet of 117 wide-body and narrow-body aircraft and AIXL has a fleet of 24 narrow-body aircraft half of them on lease, not owned.
